A person's taxable income is calculated by deducting all allowable deductions and tax-free expenses from their gross total income, which is a rather straightforward formula.
When applied to a person, it is represented as, Formula for Calculating Taxable Income: Gross Total Income - All Exemptions - All Deductions
Income subject to tax: $19,606
$41,821 in taxable income
9,838 Taxable Income
The amount of income used to determine how much tax an individual or business owes the government in a specific tax year is known as taxable income. Knowing one's total taxable income is crucial because it makes calculating the final amount of tax that will be paid or refunded much simpler.
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Answer:
The company must invest $ 100,879.85 ( approx )
Explanation:
Let P be the invested amount,
The annul rate, r = 6% = 0.06,
Number of years, t = 5 years,
Thus, the total amount after 5 years,
We have, A = $135,000,
( Using calculator )
Hence, company must invest $ 100,879.85 ( approx )
The individual stockholders face limited liability in the form of money
Money is called a store of value because it allows us to:
- Save
- Allocate capital
- Have confidence in money
When money is a store of value, it means that it is capable of being held such that it can increase our wealth and net worth. This is why it can be saved and used as a means of capital.
When money is a store of value, we have confidence in its ability to be used to carry our wealth into the future.
In conclusion, money being a store of value means that we have confidence in it.
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Answer:
OD. The price of other products would need to have increased.
Explanation:
Inflation is defined as the decline of the purchasing power of a particular currency over a period of time. Which means that if a product cost $1 last two years and now costs $2 now, and its effect is also felt among other commodities, then inflation is confirmed as it is not limited to a particular product.
Therefore, if ten years ago, a smoothie at Kay's Smoothies cost $1.25 and today it costs $2.00, in order to attribute this price increase of smoothies at Kay's to inflation, the price of other products would need to have increased.
